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appears to be following -- the falling apart due to the credibility of the accuser. there is a big trade dispute going on right now. the european union and mexico which took objection to the abuse of quotas, china must either appeal the ruling or comply by removing the restririctio. failure to do so will enable the u.s. to respond with trade sanctions. they are used in the electrical appliances and predominantly in ththe stl industry. the banking system could also be headed for some big trouble. they have failed to keeeep track of economic stimulus funds. the total value could be well over 300 billion euros. the scale of such loans could pose a threat to china of's entire banking system and the risk exposure could change the credit outlook. the trade manufacturer has plans to cut more than 1400 jobs. a move that will eliminate half of the entire work force. the decision comes after they failed to win a major contract to build more than 1000 train carriages in britain. >> of the contract is part of the plan to upgrade the rail lines. the consortium won the final better. the contract calls
in the senate for us. how does austerity look for ordinary italians? >> the big weakness of this budget is it puts off some many of the cuts and tax increases until 2013, 2014. that is not coincidental. there is a general election in june 2013. all of this will have to be done by the next government. in the meantime, there is going to be a gaming tax, increased health charges, cuts in pensions, but only for the highest pensions -- and in italy, pensions are pretty generous. this is not a budget which in the short-term is going to lead anybody into destitution. >> in other news, syrian pro- democracy activists say government forces have killed at least nine people as protests against the president continue. reports indicate the military crackdown on opposition activists in damascus and hana. police have arrested members of opposition supporters. non-governmental organizations say at least 1600 people have been killed since the uprising began four months ago. 13 turkish soldiers have been killed in an attack in the southeast of the country. officials say kurdish militants ambushed troops.
will wreck the climate and we will wreck the oceans. >>reporter: and big brand bikes mean business in india, as demand for luxury two wheelers revs up >>i walked into the mall and they had this showroom, i saw the bikes and i knew i had to get one. >>reporter: hello and welcome. i'm raya abirached and this is world business, your weekly insight into the global business trends shaping our lives. three decades of urbanization and economic reforms have lifted hundreds of millions of chinese out of poverty. the big concern now is how to keep feeding them. changing diet, increasing demand and tightening supply threaten the country's food security. it's a delicate balancing act and one that has implications for commodity markets worldwide. >>reporter: dragon spring village, in the hills above chongqing - where li xingming's family has worked the fields since the 19th century. >>before, our village never planted vegetables, only rice. now, we grow vegetables and we grow less rice, we just grow what we need. >>reporter: this growing and changing demand is coming from china's ever expanding cities -
this big high pressure system covering japan. so we're looking at intense sunshine again. but with the heat of the day, we'll certainly be seeing some sporadic afternoon showers. across china, showery weather for northeastern china, and then we've got this very long seasonal rain band affecting the korean peninsula. could get quite intense for you again, north korea as well as jiangsu and an hui, as much as 100 millimeters. flooding is going to be a big, big concern as it has been raining for days. then down towards the southern end of china it remains fairly unsettled. in and around guanxie, hainan island, plenty of showers to be had across indo china as well. 25 degrees in chongqing today. seoul 25, another rapy day. and tokyo is going to be hot and steamy at 32. now we head into north america. very long frontal system impacting north america. today we've got lots of showers developing here across the lower midwest, the plains states up towards the northern rockies. particularly severe near this low pressure system from montana and across illinois as well. significant rain to be found fro
previous bouts winning them all. goeido was expecting a big performance of the basho but only one win after five days. a game of tactics and quick thinking as each time goei 'do o tries an attack, yokozuna switches grips. hakuho counters. the bout offers it all. hakuho rises to the occasion. forces out the komusubi. undefeated aalways is hakuho. after six bouts. just maybe the old and better harumafuji is back after he shares the lead in five days. who is only one of two of the last 11 against the ozeki. the veteran resists momentarily the ozeki hits again. harumafuji delivering quality sumo this time. >>> aside from hakuho's quest for eight tournament victories in a row, kotoshogiku is out for at least 12 wins to consider the ranking for ozeki. we'll look at that soon. first barato's attempt to bounce back from yesterday's untimely loss. baruto look more than annoyed after losing on day five. toy toyonoshima can be a giant killer if he gets a double grip inside. toyonoshima is inside, but baruto blocks the hand squeezes the little man. writing on the wall, baruto redeems himself with a sol
in business news. big losses on stock markets overnight. >> indeed, catherine. europe and wall street sliding overnight. new york stocks tumbled on monday on growing concerns that greece's fiscal problems could spread to other european countries such as italy and spain. the dow jones industrial average lost more than 180 points at one stage, closing the day at 12,505, down 151 points from friday's finish. sell orders surged for a wide range of issues. earlier in the day, european stocks were down across the board. market sources say investors are speculating eu stress tests for regional lenders could reveal problems that are weighing down on italian banks. results will be announced later this week. italy's long-term bond prices have plummeted on the speculation. >>> now let's go check on tokyo shares after a considerable setback on wall street and continued concerns in europe. we go to ramin mellegard who is at the tokyo stock exchange. italy emerging as the next big story. >> very good morning to you, ai. we're really seeing that reflected in the markets here at the open boat the nikkei down
backwaters across the country, it has big plans for the next five years as it seeks to boost incomes by at least 14 percent annually. >>the most meaningful economic decisions are made far away from beijing, in places like here - pengshui - over 1500 km south west of the capital. few if any here are interested in cooling economic growth or slashing investment plans as this is the only model they know that can provide jobs, spread more money around and, it's hoped, keep the people content. >>reporter: and in this belief, the local authority plans to plough some 2 billion us dollars every year into investment in buildings and infrastructure. >>the pace of our development is very fast - but we are very poor, we are backward, we are under developed, we're coming from a very low starting point. that's why, in our new five year plan our growth could reach 20 percent. >>reporter: one of pengshui's big ideas is to build a new city centre on this farmland, a 20 minute drive away. in a couple of years' time, the billion dollar project will be linked to the old districts via a tunnel through the
the dollar. ai, give us the latest take on that. >> absolutely, catherine. big losses overnight in europe and the u.s. new york share prices plunged on wednesday as u.s. policymakers could not resolve their deadlock over raising the nation's debt ceiling. the dow jones industrial average lost more than 198 points and ended the day wednesday that is at 12,302. the index had dropped over 200 points at one stage. investors placed sell orders on a wide range of issues as lawmakers could not reach an agreement on the debt limit. the stock market lost more ground after the u.s. central bank said the american economy is slowing down in its periodic survey of economic conditions. sources say the focus of market players now is whether lawmakers can come up with a deal before the august 2nd deadline. >>> and to see how stocks are trading here in japan this thursday morning, we cross over to ramin mellegard who is at the tokyo stock exchange. good morning. what can you tell us? >> good morning to you, ai. whey can tell you is that the nikkei has broken below the key psychological 10,000 for the firs
as the big three, and command a 93% share of the market. they look at the books of businesses and countries and judge how able they are to pay back financial observations. in a complex internet -- international economy, this information is vital to investors. when the bretton woods system of monetary management fell apart in the 1970's, the role of ratings agencies became even more important. the u.s. government gave them the task of assuring financial reliability. the european union has also require banks to increase capital in line with risk exposure. that risk is measured by the ratings agencies. >> the influence of ratings agencies lies on the one hand in the way their evaluation system has been incorporated into legislation. on the other hand, many business contracts are tied to the marks of the ratings agencies. that means certain private investors will only invest if there is a certain rating. >> one such example is the insurance giant allianz, which relies on ratings agencies to invest huge amounts of capital. but that system historically failed on a massive scale and when the agenc
, tokyo. >>> let's look at the latest in business news with ai uchida. there was a big jump in stock markets. >> european and u.s. markets up overnight. new york stocks surged over 200 points tuesday, marking their largest one-day gain this year. the dow jones industrial average finished the day at 12,587, up 202 points or 1.6%. the key index opened sharply higher following a robust earnings report from ibm. market sentiment received a further boost after president barack obama expressed support for a bipartisan proposal to cut budget deficits. >>> stocks weren't the only thing that rose. u.s. housing starts in june jumped from the previous month. attention is now focused on whether the housing market which is a major component of the u.s. economy continues on a full recovery track. the commerce department says housing starts stood at an annualized 629,000 units, that's up over 14% from may. the figure is far above the market expectation of 570,000 units. building permits which are an indicator of the prospects for the housing market also rose 2.5%. >>> and now let's take a look at j
with into the next 24 to 48 hours. all right. as we head now up to the big picture, severe storms are going to be pushing along the northern tier of the u.s. around i think the heaviest rain is going to be in north dakota, maybe south dakota getting some of that as well as montana. as for up toward canada, alberta and saskatchewan, maybe moderate showers out here. they won't be as intense. showers will be pushing into the northeast. that's nottet a bad thing. it will be helping to push the temperatures down into the weekend. take a look at the highs forecast for friday. 37, new york city, 39 in d.c. and to give you an idea of the departure from average, we're talking about, philadelphia, nine above average, boston, nine above average. so this unrelenting heat is going to be with most of you for the next few days. do take care if that is you. all right. into europe, to the west, showers, nothing too substantial. but the heavy rain is going to be continuing across scandinavia, down through northern germany, and pulling into the baltic states as well. along the front the storms moving down int
additional heavy rain of more than 100 millimeters in the next 24 hours. so flooding is going to be a big concern here, as well as strong winds and high waves along the east coast. in terms of temperatures, it stays hot in southern china. 38 degrees in nanchang today. and shanghai reaches 37 degrees as well. it's very, very hot indeed. now for the americas, looking very unsettled down in the southeastern corner here. watch out for those drenching thunderstorms, picking up all that energy from the gulf of mexico. a couple of severe areas to watch out for across the north as well. for the northeastern corner of the u.s. awell as eastern canada. and then back behind the tail end of this frontal system, this w pressure system forming over montana. so areas nearby for western canada, the plains states as well as the northern plains, i should say. look out for those strong thunderstorms. looking quite showery over down in the southwestern corner as well as western mexico here. temperatures stay very, very hot in the central and the southern portions of the u.s. 40 degrees in oklahoma city. 34 i
, too, over the course of today. it's a big concern and turning very stormy. now, let's forecast path towards the north a little bit more over the course of today and then veers quickly out and heads out in towards the east and this is a fairly slow-moving system and it's large so a wide area's going to be impacted. and we are going to continue to see that stormy weather over the next couple of days. now, of course, plenty of rainfall, especially along the pacific side and in addition to that, damaging winds, dangerous surf conditions and potential for landslides as well as flooding. rainfall amounts in the next 24 hours into wednesday morning as much as 800 millimeters for the section and some of these areas have already seen a lot of rainfall in the past 24 hours, too. so amounts are easily going to hit almost a meter high. very, very wet conditions. do want to watch out for over the next few days. >> all right. we'll be checking back for the latest in those -- in that situation. so japan's women's soccer team arrived home after winning the world cup for the first time. the team arr
. >>reporter: why hydroelectric power is a big draw for energy intensive industries around the world. >>things like the smelting of aluminium of bauxite you're going to need huge quantities of power andfor that hydropower does seem to be the obvious solution >>reporter: and how social media can be an amazing source of market research, if companies can sort through the vast amounts of consumer comments posted online. >>the scale of data mining is increasing all the time. the cost of, the unit cost of data mining is going down all the time. >>reporter: hello and welcome. i'm raya abirached and this is world business, your weekly insight into the global business trends shaping our lives. at the start of the year egypt surprised the world,by overthrowing the regime of president hosni mubarak. six months on and the country is at a crossroads. the revolution appears to have stalled, parts of the economy have been badly battered and protestors are back in the streets. >>reporter: cairo in july. the arab spring has given way to the arab summer. the city is boiling hotbut despite the heat hundreds of p
Search Results 0 to 13 of about 14